Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices are expected to extend their downside trend on Tuesday, triggered by more selling pressures on a lack of any new catalysts, analysts told Mubasher.

"The continuous selling pressures may push the benchmark index EGX30 to retest the level of 8,450 points, after which it may rebound," said Ahmed Abdul-Hamid, managing director of branches at Watheeqa Securities Brokerage.

EGX indices slid collectively on Monday, while the market capitalisation lost nearly EGP 6.1 billion ($804 million) amid a selling spree from foreign and Arab investors.

The benchmark index EGX30 fell 170 points or 1.93% to 8,595.78 points.